Eland Oil & Gas PLC Thursday said production has recommenced at the Opuama fields and is stabilising, and has received payment for its August lifting from Shell Western Supply and Trading Ltd.
Eland said production at the Opuama field, covered by the OML 40 license, has recommenced with production stabilising at an average rate of over 3,500 barrels of oil per day.
In August, Eland said it is planning a seven-well development drilling programme in the Opuama field, onshore Nigeria, with the aim of completing at least one producing well by the end of 2014, with expectations of achieving 7,000 barrels of oil per day gross production at the OML 40 site by its year-end.
Eland further announced Elcrest Exploration and Production Nigeria Ltd, its joint venture company in which it holds a 45% interest, has received payment for the loading and sale of 46,022 barrels of crude oil in August from Shell Western, part of Royal Dutch Shell PLC.
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